2024-02-29 13:17:27
The Dubai Financial Market Index exceeded the level of 4,300 points for the first time in 10 years, specifically since November 2014, and the index rose strongly during the past sessions, supported by leading stocks in banks and real estate.
The Dubai market strengthened its rise for the third session in a row in Thursday’s trading, and the market index rose by 0.43%, or the equivalent of 18.39 points, reaching the level of 4,308.77 points, giving the market a profit of regarding 2.4 billion dirhams.
The market capitalization of Dubai’s listed shares rose from 728.05 billion dirhams at the end of Wednesday’s session to 730.44 billion dirhams at the end of Thursday’s session.
“National International Holding” stock led the rise of 20 stocks in the Dubai market, rising by 6.15%, while “Dubai Commercial” stock acquired the largest share of market liquidity with a value of 113.3 million dirhams, closing up 1.5% at 7.31 dirhams, followed by “Emaar Properties” with more From 89 million dirhams, and Emirates NBD attracted 85.6 million dirhams,
The performance of the Dubai market was supported by the rise in shares of “Wataniya International” by 5.9%, “Shuaa Capital” by 5.2%, “Mashreq Bank” by 3.5%, and “Du” by 2.25%.
Foreign investment
Non-Arab foreign investors tended to buy in the Dubai market with a net investment of approximately 44 million dirhams on Thursday, following achieving purchases worth 236.1 million dirhams, compared to sales of regarding 192 million dirhams.
Abu Dhabi Market
The FTSE Abu Dhabi General Market Index (FADGI) closed on Thursday at 9,254.81 points, down 0.31%.
“International Holding” led the activity in the Abu Dhabi market, with the largest share of total trading at regarding 210.8 million dirhams, followed by “Abu Dhabi Commercial”, attracting 99 million dirhams, then “E&”, with liquidity of 91.4 million dirhams.
In the Abu Dhabi market, shares of “Response Plus Holding” rose 14.8%, “National Foodco” 11.45%, “Sharjah Insurance” 7.5%, and “Emirates Motor Driving” 4.3%.
Liquidity
Local stocks attracted liquidity of regarding 1.84 billion dirhams, distributed by 1.28 billion dirhams in the Abu Dhabi market, and 553.4 million dirhams in the Dubai market, and regarding 607.4 million shares were traded, through the implementation of more than 27.9 thousand transactions.
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